The survey of 16,000 US employers by Manpower Inc. also found that 57% of employers expect the hiring pace in the third quarter of 2006 to be stagnant, while 6% are undecided about their July through September hiring plans.
Construction employers are the most optimistic about the job market for the third quarter of 2006, the results showed. Employers in four sectors – Transportation/Public Utilities, Finance/Insurance/Real Estate, Services and Public Administration – predict slightly improved employment prospects for the third quarter versus the second quarter, while the Durable and Non-Durable Good Manufacturing, Wholesale/Retail Trade and Education sectors expect the hiring rate to be static.
Hiring expectations for the second quarter as opposed to the third quarter are as follows:
- Construction, increase from 24% to 37%
- Education, decrease from 17% to 14%
- Finance, Insurance & Real Estate, constant at 23% for both quarters
- Manufacturing – Durable Goods, slight increase from 23% to 25%
- Manufacturing – Non-Durables, increase from 18% to 21%
- Mining, increase from 18% to 21%
- Public Administration, increase from 16% to 20%
- Services, increase from 23% to 26%
- Transportation & Public Utilities, slight increase from 20% to 21%
- Wholesale & Retail Trade, increase from 21% to 28%
Of all US regions, the Northeast is the only area to report a quantifiable shift in hiring plans, with slightly higher job prospects for the third quarter than in for the second quarter. Employers in the South and West reported the strongest hiring aims for the period, while the Midwest held the most conservative hiring outlook.
The employment outlooks for each region from the second quarter and third quarter are as follows:
- Northeast, increase from 20% to 24%
- Midwest, increase from 18% to 22%
- South, increase from 24% to 27%
- West, increase from 24% to 28%
The strongest third quarter hiring predictions reported globally were in India, Hong Kong, Japan, Taiwan and the United States, with only German employers reporting a falling hiring outlook.
“Currently, we are seeing peaks, such as the continued robust hiring outlooks in India and Japan, and valleys, such as renewed pessimism in Germany and the weaker indications in China, but employers in the majority of the countries we survey are adding to their workforces,” said Jeffrey Joerres, Chairman and CEO of Manpower, in a news release.
The Manpower Employment Outlook Survey is here .